Boston, MA 10/03/2014 (wallstreetpr) – According to reports, Douglas Emmett, Inc. (NYSE:DEI) recently announced that it had closed a term loan worth $145 million at interest of LIBOR plus 1.25% per annum. DEI is a well known real-estate investment trust.
Insights of the announcement:
It is a secured, non-recourse term loan and will mature on October 1, 2019. DEI has decided to use maximum part of this loan amount for repaying $111.9 million worth of outstanding loans. After the payment of the debt, it will be left with a small sum of close to $30 million, which is expected to be used for acquisition transactions of various properties. The current decade belongs to real-estate growth in all over the world. The time of recession is over; therefore, people are keen on putting their money back in real-estate properties. The main objective of it doesn’t only revolve around good returns, but also capital appreciation over time. Douglas Emmett, Inc. (NYSE:DEI) wants to make full use of this boom in the real-estate sector.
DEI is a self-administered, fully integrated, self-managed real estate investment trust. It is one of those very few real-estate firms that own very large, multi-family and high quality offices and residential properties of Los Angeles and Honolulu. The core objective of DEI has always been on acquiring those high-class and attractive residential and commercial properties that have significant key lifestyle amenities, supply constraints and high-end executive housing. It wants to change the living experience of all of its clients forever by offering them second to none services. Complete information about its offers, products and other aspects can be gathered from company’s official website. It keeps offering various attractive investment offers from time to time. Management of Douglas Emmett, Inc. (NYSE:DEI) is delighted to close this term loan and hopes that DEI will continue to satisfy all of its customers through its top notched services and offers in the future.